LFoundry

Jiangsu CAS-IGBT Technology Co., Ltd. agreed to purchase 100% of the shares of LFoundry Srl, a subsidiary of SMIC, for about US$113 million in assets plus US$63 million in loan settlement. The acquisition is expected to be finalized at the end of June 2019.

LFoundry S.r.l. has been awarded a EUR 9 million contract by Istituto Nazionale di Fisica Nucleare for the design and manufacture of silicon sensors and electronic devices. The contract was awarded on 2018-02-14 and published on 2018-03-02.

SMIC acquired a 70% stake in LFoundry, an 8-inch foundry producing 40,000 wafers monthly, for EUR49 million (US$54.5 million).